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Black Hills

#2987

Rank

$4.15B

Marketcap

US United States

Country

Black Hills
Leadership team

Mr. Linden R. Evans (Pres, CEO & Director)

Mr. Richard W. Kinzley (Sr. VP & CFO)

Mr. Erik D. Keller (Sr. VP & Chief Information Officer)

Products/ Services
Electronics, Energy, Oil and Gas
Number of Employees
1,000 - 20,000
Headquarters
Rapid City, South Dakota, United States
Established
1941
Company Registration
SEC CIK number: 0001130464
Net Income
100M - 500M
Revenue
Above - 1B
Traded as
BKH
Social Media
Overview
Location
Summary
Black Hills Corporation, through its subsidiaries, operates as an electric and natural gas utility company in the United States. It operates in two segments, Electric Utilities and Gas Utilities. The Electric Utilities segment generates, transmits, and distributes electricity to approximately 218,000 electric utility customers in Colorado, Montana, South Dakota, and Wyoming; and owns and operates 1,481.5 megawatts of generation capacity and 8,892 miles of electric transmission and distribution lines. The Gas Utilities segment distributes natural gas to approximately 1,094,000 natural gas utility customers in Arkansas, Colorado, Iowa, Kansas, Nebraska, and Wyoming; owns and operates 4,732 miles of intrastate gas transmission pipelines; 41,644 miles of gas distribution mains and service lines; six natural gas storage sites; and approximately 50,000 horsepower of compression and 515 miles of gathering lines. The company also constructs and maintains gas infrastructure facilities for gas transportation customers; and provides appliance repair services to residential utility customers, as well as electrical system construction services to large industrial customers. In addition, it produces electric power through wind, natural gas, and coal-fired generating plants; and coal at its coal mine located near Gillette, Wyoming. The company was incorporated in 1941 and is headquartered in Rapid City, South Dakota.
History

The company traces its roots to 1883 and the organization of the Black Hills Electric Light Company of Deadwood. Merged with the Belt Light and Power Company of Lead in 1905, the company became Consolidated Power and Light Company of South Dakota. Meanwhile, to the south, the Dakota Power Company began serving Rapid City in 1910. Both of these companies were purchased by holding companies in the 1920s. With Roosevelt-era legislation to break up big national utility holding companies, Black Hills Power & Light Company was formed in 1941 by combining the assets of General Public Utilities, Inc. and Dakota Power Company which provided power for most of western South Dakota.In 1956, the company completed its acquisition of the Wyodak Coal Company , from the Homestake Mining Company, setting the stage for the company's significant investments in mining, oil and gas.

In July 2002, Black Hills Corporation announced that a settlement was reached with the U.S. Commodity Futures Trading Commission relating to its marketing subsidiary, Enserco Energy, Inc. Based in Golden, Colorado, Enserco engages in natural gas marketing on the wholesale market and on behalf of independent producers. On November 25, 2002, Black Hills Corporation announced that its new independent public accountants, Deloitte & Touche LLP, had completed the audit of Black Hills Corporation's 2001, 2000 and 1999 financial statements that were originally audited by Arthur Andersen LLP.In 2004, Black Hills acquired Cheyenne Light from Xcel Energy. Cheyenne Light continues to operate as a separate subsidiary.In 2007, it announced an agreement to buy the natural gas utility in Colorado, Kansas, Nebraska and Iowa and its Colorado electric utility from Aquila, Inc. Completed in July 2008, the deal increased the company's customer base from 137,000 to 753,000 and increased its employee base from 916 to 2,000.In July 2015, Black Hills announced it was purchasing SourceGas for $1.89 billion. The deal covers approximately 425,000 customers in Arkansas, Colorado, Nebraska and Wyoming and a 512-mile regulated intrastate natural gas transmission pipeline in Colorado.In late 2016, Black Hills announced plans to invest $700 million to build a 1 million square foot drilling and pipe production plant in Norfolk, Nebraska. The facility was expected to employ 400 people. Black Hills said it would use 500,000 tons of steel per year from Nucor Steel.In March 2018, Black Hills received, and turned down, an unsolicited $1.1 billion purchase offer from the San Isabel Electric Association in Colorado; it responded to the offer with a full-page newspaper ad in the Pueblo Chieftain.

Mission
If you want to make a difference, then we have a career for you. We’ve dedicated ourselves to finding, producing and distributing energy that powers our customers’ homes and businesses. Every member of our team is challenged to take our mission personally: to Improve Life with Energy. We live out this mission in our daily work, in community service and leadership, and in doing the right thing for our customers, co-workers, shareholders and the environment. We've also set a goal to be the safest energy company in the country. We did it so that everyone - including you - can go home safely. Every day.
Vision
We strive to be the energy partner of choice. Whether our customers are served by our regulated or non-regulated businesses, we want them to value our service and business relationship.
Key Team

Mr. Brian G. Iverson (Sr. VP, Gen. Counsel & Chief Compliance Officer)

Ms. Jennifer C. Landis (Sr. VP & Chief HR Officer)

Mr. Jerome E. Nichols (Director of Investor Relations)

Ms. Kimberly F. Nooney (VP & Treasurer)

Ms. Amy K. Koenig (VP of Governance, Corp. Sec. & Deputy Gen. Counsel)

Mr. Courtney Hebert (VP, Corp. Controller & Chief Risk Officer)

Recognition and Awards
Black Hills has been recognized for our commitment to excellence, receiving numerous awards including the EPA's Energy Star Program Certification and the Idaho Department of Commerce Award for Energy Efficiency.
References
Black Hills
Leadership team

Mr. Linden R. Evans (Pres, CEO & Director)

Mr. Richard W. Kinzley (Sr. VP & CFO)

Mr. Erik D. Keller (Sr. VP & Chief Information Officer)

Products/ Services
Electronics, Energy, Oil and Gas
Number of Employees
1,000 - 20,000
Headquarters
Rapid City, South Dakota, United States
Established
1941
Company Registration
SEC CIK number: 0001130464
Net Income
100M - 500M
Revenue
Above - 1B
Traded as
BKH
Social Media